Some EVM chains see transaction counts spike over 1,000% since mid-November

Quick Take

  • EVM chains Avalanche, Celo, Fantom, BNB Chain and Polygon saw spikes in transaction counts after mid-November. 
  • Two of these chains, Fantom and Celo, saw activity rise over 1,000%, according to The Block’s Data Dashboard. 

Alternative Ethereum Virtual Machine chains including Avalanche, Celo, Fantom, Polygon, and BNB Chain have seen transaction counts spike starting in mid-November, according to The Block's Data Dashboard. 

Fantom had the highest increase at 1,321%, with transactions rising from 239,920 on Nov. 17 to 3.41 million on Nov. 26. Celo saw a 1,277% rise in just four days from 277,500 transactions on Nov. 22 to 3.82 million on Nov. 26. 

Polygon saw a 155% increase from Nov. 14 to Nov. 26, with Avalanche seeing an 857% increase from 321,900 transactions on Nov. 18 to 3.08 million of such on Nov. 26. BNB Chain experienced a 55% increase from 3.59 million transactions on Nov. 16 to 5.58 million on Nov. 21, before seeing a decrease in transactions down to 3.48 million on Nov. 26. 


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High transaction fees on Ethereum along with positive price action of native tokens on the EVM chains could have caused the increased transaction count, noted The Block data research analyst Rebecca Stevens. 

"BNB's rise has come down a bit possibly due to a pullback in activity post-settlement, but other chains have seen continued growth," Stevens adds. 

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.


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